28Aug10:28 amEST

Absorbing the Beating

Many commodities and commodity-related stocks are finally catching beaten-down snapback rallies this week. They may be setting up for another push higher next week, but even if that happens the entire complex has weeks if not months of work ahead of it to prove any type of meaningful bottom. 

In the meantime, turning to other stocks, Wayfair (W) is a chart which has held up remarkably well of late, and now appears to be shrugging off a negative piece by Citron Research well. 

As usual, too many market players may be focused on the news-flow and analyst notes in lieu of the actual price action. And, in the case of W, seen below on the daily chart, the stock remains technically relatively strong compared to the many other sloppy if not broken charts out there.

Above $40, and the case remains intact for Wayfair to be a relative outperform on condition that the broad market does not roll back over. 

Stock Market Recap 08/27/15 ... A Target for Oil


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